The insurance sector of Kyrgyzstan grew by 56.29% at the end of 3Q2024, reaching KGS 3,734.84 million (EUR 39.80 million), according to data published by the Service for regulation and supervision of the financial market of Kyrgyzstan.

Among the main insurance classes, personal insurance recorded the most impressive GWP growth - by 79.58%. It is worth noting that in life insurance segment, where there were almost no premiums a year ago, insurers collected KGS 0.40 million at the end of the third quarter this year.

Insurers' paid claims grew by 41.37%, amounting to 547.61 million (EUR 5.84 million). Mandatory insurance recorded a rapid increase in paid claims (+461.74%), while paid claims in liability insurance almost stagnated (-0.02%).

At the end of 3Q2024, 16 insurers were active on the market, among which GSO came out on top in terms of GWP, with an impressive growth rate of 961.61%, and its market share increased from 3.91% a year earlier to 26.63%. ARSENAL Kyrgyzstan continues to rank second, while last year's leader, NSK, dropped to third position.

Access xprimm.com and download the latest Kyrgyzstan insurance market statistics for 3Q2024 in EUR and KGS.